For most of our lives many of us have heard the old adage “Money can’t buy happiness.” And we can all think of numerous examples of individuals where this certainly seems to be true – whether among the powerful and famous, or within our own family or group of friends. But is that really true? Research over the last few decades suggests “NO!” In fact, many studies show that in one sense money can buy happiness. But it’s not the amount of money we have, but rather how we SPEND our money that can indeed increase our happiness – although perhaps not in the way Madison Avenue or Amazon Prime would like us to think. First, let’s address the skeptics among you who feel sure that if you simply had MORE money you would indeed be happier. Statistics show that certainly isn’t true, since 70% of all lottery winners or those with a sudden financial windfall end up bankrupt within a few years.1 Carl Jung, famous psychologist, said in fact that the keys to happiness were five things.
Atlanta Financial Newsroom
Atlanta Financial and Biggers Blackmon Join Forces
We are thrilled to announce that Biggers Blackmon, LLC, a wealth management firm formerly with offices in Eufaula, AL, and Atlanta, GA, will be joining our operations. The principals of the two firms came to know each other through a mutual association with Commonwealth Financial Services and enjoy a similar approach towards operations and customer satisfaction. Combined, we will unite more than 50 years of financial advisory services.
“This affiliation is a great move for the clients of both firms,” said AFA co-founder and partner Cathy Miller.
“We’re better together and our clients will reap the rewards in terms of more efficient operations, expanded customer service and, in some instances, reduced trading costs,” elaborated Biggers Blackmon founder Janis Biggers.
Biggers Blackmon was founded by Janis Biggers in 1992. Biggers’s experience with a big-four accounting firm as well as in financial operations management with an agri-business company paved the way for the formation of her wealth management practice.
As part of the combined efforts, partner Chris Blackmon will be moving to the current AFA offices in Atlanta and Chris and Janis will continue to see clients by appointment in Eufaula.
We look forward to working together towards “Making Life’s Journey Richer” for our clients.
“How did the new tax bill affect me?” was the question on everyone’s minds this tax season, and for good reason. Even though this was touted as the greatest simplification of the tax code in my lifetime, I didn’t notice any reduction in time spent preparing returns. Those of you who reviewed your returns in detail noticed that the schedules look drastically different although contain all the same information. The short answer for many is that it didn’t materially change your overall tax liability. The outliers fell into one of a few buckets…
What would you do if you received a major financial windfall? Would you buy a new house or vacation home, give some to your family members, donate to your favorite charity, or take the trip(s) that you have always dreamed about?While most people will not receive a major financial windfall during their lives, it is not uncommon. You might receive a financial windfall by:
When I first sit down with prospective new clients to learn about their finances, one of the most common issues we come across is how spread out investment accounts are. We may have a brokerage account here, an IRA there and, very often, an old 401(K) or two still sitting in a previous employer’s plan. There are plenty of reasons why a 401(K) may be left behind with a prior employer – it could have gotten lost in the shuffle of beginning a new job, it may have just seemed like too much of a hassle to move the plan, or perhaps you took the time to roll the plan into an IRA but your employer made subsequent contributions you didn’t know about. These accounts, affectionately referred to as “orphans,” are becoming more and more common given the increasing frequency of job-hopping, especially among Millennials. So, who do these orphan accounts belong to and more importantly, what can be done about them?